Home Loan vs Personal Loan: What Should You Choose
Choosing between a home loan and a personal loan depends on your financial needs and goals. A home loan is ideal for purchasing or constructing property, offering lower interest rates and longer repayment tenures due to secured collateral. On the other hand, a personal loan is unsecured, has shorter tenures, and higher interest rates but offers quicker disbursal and less documentation. If you're investing in real estate, a home loan is better. For urgent, short-term needs like medical expenses or travel, a personal loan suits best. Always compare interest rates, EMIs, and your repayment capacity before making a decision.